Myth Busters (continued)Myth 7 - Some recent HC discussion has...

Myth Busters (continued)

Myth 7 - Some recent HC discussion has highlighted the myth that RH has 4.5 billion tonnes of iron ore. Thanks to some questions by posters and a response by pe981 I think it time this myth was firmly laid to rest.

The claims -

“With 4.5 billion tonnes of high grade iron ore, the trucking venture proposed is another exercise in smoke and mirrors.”

“The 4.5b figure comes from mid 2018 BBIG Karratha presentations which BBIG stated their ore was high grade from Red Hawks PIOP, then Flinders and they had enough for a 50-100mtpa for 80 years, so could be as high as 8bt.BBIG were managing PIOP from early 2017 to 2022. The 2017’ drilling results would have been available to BBIG by the beginning of 2018, however those drilling results were never released.”

The reality (thanks to pe981) -

“Just for clarity, in 2018 BBIG did a presentation to Karratha Chamber of Commerce which stated their proposed infrastructure would have the capacity to handle 50mtpa increasing to 100mtpa.

These figures were based on providing an infrastructure for IO in the Central Pilbara region currently stranded (not just PIOP) which they estimated could be up to 12bn tonnes!! (Of course quoting gross tonnage figures is all a bit pointless without grades)

PIOP was the potential foundation customer (clearly) however I have not seen anywhere they state it had a JORC of 4.5bn tonnes although the mythical 2017 drill results written on sacred Parchment by the Brothers of Democritus may emerge.

Certain posters have no intention of telling the truth..............”

Myth busted!